A potential new industry in Clinton has received some funding from the Iowa Economic Development Department, but little is being revealed about the business. “Read more” for the information and a link to the state announcement.
According to the state news release on the grant to the firm and others contained little information – only stating that the firm -NuMake was incorporated in 2014 as a biobutanol refinery. The product, in the news release is described as a chemical intermediary used in the paints, coatings and plastics industry.
The state agency statement also noted that the global market for the product in 2014 was roughly $5.2 billion dollars with expectations to grow to $7.2 billion by 2025. Butanol is also an advanced biofuel that is compatible with the existing gasoline infrastructure and engine technologies.
The Clinton-based company was awarded a $95,000 loan via the Demonstration Fund for market entry and planning activities for its proposed 21 million gallon per year biobutanol facility.
Clinton Regional Development Corporation head Mike Kirchoff told KROS he couldn’t say anything publicly about the business.
Inquiries to the state Economic Development Agency have not been answered yet.
